‘JEOPARDY!” champ Ken Jennings came out of the first night of the “Ultimate Tournament of Champions” finals bloodied – but still in the hunt to keep his title.

Brad Rutter, who held the old winnings record of $1.1 million, finished Round One of the three-night tournament with $18,400.

Jerome Vered, a L.A.-based writer, won $16,400 and Jennings finished in last place with $16,000.

Jennings became an overnight sensation last year when he won over $2.5 million during an unprecedented streak of 74 consecutive victories.

Rutter and Vered won an elaborate, three-month tournament of past champions to determine who would face Jennings in a final $2 million showdown that is expected to draw huge ratings.

The tournament continues tonight (7 p.m./Ch. 7) and winds up tomorrow.

Jennings, who’s already spun his fame off into several TV commercials and a board game, “Can You Beat Ken?,” launched yesterday, will also host a game show for Comedy Central.

The as-yet-untitled show, launching in late 2005 or early 2006, is being developed by “Who Wants to Be a Millionaire” mastermind Michael Davis. Production is scheduled to begin later this summer.